USDCHF and USDJPY: USDCHF pulls back to previous support

• During the Asian trading session, USDCHF had a slight bearish consolidation with the 0.89800 level. 
• During the Asian trading session, USDJPY hovered around 134.80 levels. 

USDCHF chart analysis

During the Asian trading session, USDCHF had a slight bearish consolidation with the 0.89800 level. The dollar also continued to retreat against the Swiss franc during the EU session. Now the USDCHF is at the 0.89400 level, and we are close to testing the support from the beginning of the week at the 0.89220 level. If we fail to hold above that level, the pair could go down to last week’s support zone of 0.88600-0.88800. For a bullish option, we need a new positive consolidation and a return all the way to the 0.90000 level. And with the price breaking above, we could expect to see continued USDCHF growth. Potential higher targets are 0.91000 and 0.92000 levels.

USDJPY chart analysis

During the Asian trading session, USDJPY hovered around 134.80 levels. USDJPY had one attempt to reach the $135.00 level, but it ended in failure. The pair starts to pull back and falls to the 134.40 level. Bearish pressure is slowly building, and we could see a further decline to lower support levels. Potential lower targets are 134.20 and 134.00 levels. We need to get back above the 134.80 level for a bullish option. Then we should hold there to test the 135.00 level again. Potential higher targets are 135.10 and 135.20 levels.